Regulatory Alerts2022-10-28
On Amending the Business Conduct Regulation Series 3000
The Capital Markets Authority, in coordination with the Central Bank of Lebanon, has amended Article 3306, Paragraph 1 of the Business Conduct Regulation Series 3000 to mandate that licensed institutions obtain client information on personal and financial status, experience, and investment objectives before opening accounts or executing transactions. The revised rule requires this information to satisfy the minimum data standards of Annex No. 5, with a streamlined requirement for "Execution Only" accounts covering only personal and financial data, all documented in a dated form signed by the client. This amendment takes immediate effect upon its publication in the Official Gazette, effective October 28, 2022.
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